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JarryXie
Jan 1, 2020 1:35 AM

USDJPY reach the new W1 downtrend line Long

U.S. Dollar/Japanese YenFXCM

Description

Since the previous inflection point went down without encountering the important resistance level above, and encountering the important support level below, it completed a complete section, so it is an important inflection point, thus forming another equally important downward trend line, and the market is running in the new triangle arrangement form.
Comments
ryanscott04
Other than your technicals why do you think the USD is going to gain value vs the JPY? On the weekly & monthly it’s a down trend also in a wedge. You have a point with that support and resistance but the market is much more complex than just looking at it one way. This will continue down and probably slam down next month. I don’t see it going up whatsoever. Follow the shift in price and stop fighting it. Good luck.
JarryXie
@ryanscott04, thanks,brother ,it's a good view.
JarryXie
@ryanscott04, I think it will down ,the final goal is the horizonal line below
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